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Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Proposed Rules
public docket. Send paper submissions to: CC:PA:LPD:PR REG10907721, room 5203, Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044.
Requests for a public hearing must be submitted as prescribed in the Comments and Requests for a Public Hearing section.
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations, NaLee Park at 202 3176879;
concerning submissions of comments and/or requests for a public hearing, Regina Johnson at 202 3175177 not toll-free numbers.
SUPPLEMENTARY INFORMATION:
Background and Explanation of Provisions Temporary regulations in the Rules and Regulations section of this issue of the Federal Register amend the Employment Taxes and Collection of Income at the Source Regulations 26
CFR part 31 under sections 3131, 3132, and 3134 of the Internal Revenue Code Code pursuant to the regulatory authority granted under these sections to prescribe regulations as may be necessary for recapturing the benefit of the employment tax credits provided under these sections when necessary and to prevent the avoidance of the purposes of the limitations under these sections. Consistent with this authority, these proposed regulations authorize the assessment of erroneous refunds of the credits paid under sections 3131, 3132
including any increases in those credits under section 3133, and 3134. The text of those temporary regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains the amendments.

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Special Analyses The Office of Management and Budgets Office of Information and Regulatory Analysis has determined that these regulations are not significant and not subject to review under section 6b of Executive Order 12866.
Pursuant to the Regulatory Flexibility Act 5 U.S.C. chapter 6, the Secretary certifies that these proposed regulations will not have a significant economic impact on a substantial number of small entities because these proposed regulations impose no compliance burden on any business entities, including small entities. Although these proposed regulations will apply to all employers eligible for the credits under sections 3131, 3132, and 3134, including small businesses and taxexempt organizations with fewer than
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500 employees as well as certain governmental employers, and therefore are likely to affect a substantial number of small entities, the economic impact will not be significant. These proposed regulations do not affect the employers employment tax reporting or the necessary information to substantiate entitlement to the credits. Rather, these proposed regulations merely implement the statutory authority granted under sections 3131g, 3132 g, 3134j, and 3134m that authorize the Service to assess, reconcile, and recapture any portion of the credits erroneously paid or refunded in excess of the actual amount allowed as if those amounts were taxes imposed under section 3111b the Hospital Insurance tax Medicare tax, and so much of the taxes imposed under section 3221a the Railroad Retirement Tax Act Tier 1
tax as are attributable to the rate in effect under section 3111b, as applicable, subject to assessment and administrative collection procedures.
Notwithstanding this certification, the Treasury Department and the IRS invite comments on any impact these regulations would have on small entities.
Pursuant to section 7805f, this notice of proposed rulemaking has been submitted to the Chief Counsel of the Office of Advocacy of the Small Business Administration for comment on its impact on small business.
Comments and Requests for Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any comments that are timely submitted to the IRS as prescribed in the preamble under the ADDRESSES section. The Treasury Department and the IRS
request comments on all aspects of these proposed regulations. Any electronic comments submitted, and to the extent practicable any paper comments submitted, will be made available at www.regulations.gov or upon request.
A public hearing will be scheduled if requested in writing by any person who timely submits electronic or written comments. Requests for a hearing are strongly encouraged to be submitted electronically. If a public hearing is scheduled, notice of the date and time for the public hearing will be published in the Federal Register. Announcement 20204, 202017 IRB 1, provides that until further notice, public hearings conducted by the IRS will be held telephonically. Any telephonic hearing will be made accessible to people with disabilities.

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Statement of Availability of IRS
Documents IRS notices and other guidance cited in this preamble are published in the Internal Revenue Bulletin or Cumulative Bulletin and are available from the Superintendent of Documents, U.S. Government Publishing Office, Washington, DC 20402, or by visiting the IRS website at http www.irs.gov.
Drafting Information The principal author of these regulations is NaLee Park, Office of the Associate Chief Counsel Employee Benefits, Exempt Organizations, and Employment Taxes. However, other personnel from the Treasury Department and the IRS participated in the development of these regulations.
List of Subjects in 26 CFR Part 31
Employment taxes, Income taxes, Penalties, Pensions, Railroad retirement, Reporting and recordkeeping requirements, Social security, Unemployment compensation.
Proposed Amendments to the Regulations Accordingly, 26 CFR part 31 is proposed to be amended as follows:
PART 31EMPLOYMENT TAXES AND
COLLECTION OF INCOME TAX AT
SOURCE
Paragraph 1. The authority citation for part 31 is amended by adding entries for 31.31311, 31.31321, and 31.31341 in numerical order to read in part as follows:

Authority: 26 U.S.C. 7805.

Section 31.31311 also issued under 26
U.S.C. 3131g.
Section 31.31321 also issued under 26
U.S.C. 3132g.
Section 31.31341 also issued under 26
U.S.C. 3134m3.

Par. 2. Section 31.31311 is added to read as follows:

31.31311

Recapture of credits.

The text of proposed 31.31311 is the same as the text of 31.31311T
published elsewhere in this issue of the Federal Register.
Par. 3. Section 31.31321 is added to read as follows:
31.31321

Recapture of credits.

The text of proposed 31.31321 is the same as the text of 31.31321T
published elsewhere in this issue of the Federal Register.
Par. 4. Section 31.31341 is added to read as follows:

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